Musk talk say most crypto na scam for OpenAI trial; Tesla still dey hold BTC
For one courtroom for Oakland wey concern OpenAI origin and funding palava, Elon Musk yan say "most" crypto projects na scam. Na so im talk when lawyers dey yarn if OpenAI 2018 plan to raise money via ICO (initial coin offering) later shelve and if the nonprofit mission con suffer when the company shift enter more commercial model.
Musk yan say OpenAI break im founding agreement after dem pursue for-profit structure and accept big money from Microsoft (MSFT). OpenAI and Sam Altman dey oppose am, talk say the shift necessary to secure enough funding. Musk still talk say na reassurance e get that the nonprofit go still dey operate as charity.
For crypto traders, the direct market link na Musk/Tesla BTC exposure. Tesla buy about $1.5B worth of Bitcoin for 2021 and sell like 75% for mid-2022, but e still get 11,509 BTC. Q1 2026 filings show impairment loss (about $173M) after Bitcoin drop during the quarter.
Bottom line: Musk talk say "crypto scams" fit put pressure for short-term sentiment around higher-risk tokens and ICO-era stories, and Tesla still holding BTC for balance sheet make BTC price remain sharply in focus.
Neutral
Musk tok say "most crypto na scam" na comment na be like one sentiment shock wey fit make short-term people dey play safe (risk-off) and make volatility increase for higher-beta tokens, fit cause near-term bearish bias. But later details show Tesla still get BTC for balance-sheet, including reported impairment because Bitcoin drop. That link fit reduce some headline-driven panic by making BTC remain as major institutional/treasury reference point.
Overall, likely effect on BTC sef mixed: short-term headline volatility fit rise, but no direct new BTC-specific policy or flow change wey dem report here. Net impact therefore neutral, traders go more likely dey monitor risk appetite and BTC sentiment instead of expect sustained trend reversal.